reported strong set of numbers beating on all fronts, with decent deal wins and strong free cash flow generation,” said Sanjeev Hota, Head of Research, Sharekhan. “EBIT margin performance surprised us positively with a strong sequential expansion of 413 bps, exceeding our estimates, led by higher offshoring and operational efficiencies.”
The net new deal wins stood at $421 million for the quarter. The company said it had reached pre-Covid-19 levels. The board has declared a special dividend of Rs 15 per share and November 2 has been fixed as the record date.
“We are witnessing demand revival across multiple segments, as customers have accelerated their pace of digital transformation. Our focus on creating human-centered experiences will enable us to capture increased spends on consumerisation, as businesses try to stay relevant in the current environment,” said CP Gurnani, MD and CEO, Tech Mahindra.
The headcount stood at 124,258 at the end of the second quarter, up by 842 employees compared to the June-ended quarter.
The company said that salary hikes and appraisals for FY20 will be given in two tranches. While the junior-level employees will be given a salary hike in the ongoing financial year, senior employees will be paid in CY2021.
-Firm to offer salary hike to junior employee in ongoing fiscal
-Says, demand back to pre-Covid level in most segments
-Surprises healthy rise in profitability by over 400 bps
-Declares interim dividend of Rs 15/share
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